National Pension Service Raises Holdings in General Motors Company (NYSE:GM)

Key Points

• The National Pension Service increased its investment in General Motors by 3.7% to a total of $151.24 million, owning approximately 0.33% of the company.
• General Motors reported a quarterly earnings per share of $2.53, exceeding analysts’ expectations of $2.52, despite a 1.8% decline in revenue compared to the previous year.
• Analysts have set a consensus price target of $57.53 for General Motors, with various firms adjusting their ratings and targets recently amid market activity.

National Pension Service boosted its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,215,868 shares of the auto manufacturer's stock after buying an additional 116,161 shares during the quarter. National Pension Service owned approximately 0.33% of General Motors worth $151,242,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in General Motors by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares during the last quarter. Nuveen LLC acquired a new stake in shares of General Motors during the 1st quarter worth approximately $175,889,000. Assenagon Asset Management S.A. grew its position in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after buying an additional 2,154,037 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of General Motors during the 1st quarter worth approximately $86,900,000. Finally, AustralianSuper Pty Ltd grew its position in shares of General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after buying an additional 1,712,033 shares during the period. Institutional investors own 92.67% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GM shares. Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a report on Monday, May 5th. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. Mizuho boosted their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Barclays boosted their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, UBS Group boosted their price target on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $57.53.

General Motors Trading Down 0.2%

NYSE:GM traded down $0.11 on Friday, reaching $56.31. The company's stock had a trading volume of 5,594,331 shares, compared to its average volume of 9,995,043. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The firm has a market cap of $53.61 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 1.19 and a beta of 1.36. The stock has a 50 day moving average price of $51.70 and a 200 day moving average price of $48.91.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.06 EPS. On average, equities analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is presently 9.52%.

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This represents a 75.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.